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Mortgages

Mortgage Rates Daily Commentary
Thursday 4 December 2025  Add your comment
Good house buying conditions, but little activity; What's going on?

Experts consider it's a good time to be buying a house with lots of indicators pointing in the right direction; but sales are not picking up.

What's going on?

It was great to attend Loan Market's recent PD day and Christmas celebration. The group is on a strong growth path to becoming New Zealand's best known mortgage advice brand. It's also got some exciting developments in train. You can find out more about the Loan Market offering here.

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Nope, no change

The Reserve Bank left the Official Cash Rate alone at this morning's review, in spite of greater inflationary pressures but in line with most expectations given easing global growth.

Wednesday, January 24th 2001, 10:30AM

by Paul McBeth

 

The Reserve Bank left the Official Cash Rate alone at this morning's review, in spite of greater inflationary pressures but in line with most expectations given easing global growth.

The OCR has been stuck at 6.5 per cent since last May. It's next up for review on March 14, coinciding with the RB's March Monetary Policy Statement.

Governor Don Brash said that, although CPI was marginally higher than they'd expected in the December quarter, the main factors driving the spike were one-off.

He said that other one-off factors also suggested that the peak in the CPI might be rather shorter than first thought so that the Bank could prudently leave the OCR unchanged.

Brash said that the exchange rate had strengthened since the RB's December Monetary Policy Statement but, perhaps more importantly, expectations for global growth this year had slowed appreciably. "This fall-off in expected growth has been most notable in the United States, but is also a feature of the outlook for Australia and for much of Asia."

In their latest weekly market review, ASB Bank economists pointed out that the RB announcement was the first of a central bank trilogy, with the US Federal Reserve expected to lower its cash rate next week and the Reserve Bank of Australia to do the same the following week. "The net effect - a higher New Zealand dollar."

Earlier this month, announcing a cut in WestpacTrust's floating mortgage rate in anticipation of no OCR rise today, Chief Economist Adrian Orr said that the RB's next move was likely to be a OCR cut around the middle of this year. "Given that we are now in a flat to declining interest rate environment, borrowers should consider sticking with the floating rate in anticipation of further reductions in longer-term interest rates later in the year."

Paul is a staff writer for Good Returns based in Wellington.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build ▼3.34 - - -
AIA - Go Home Loans ▼5.89 4.49 4.49 4.79
ANZ 5.69 5.09 5.09 5.39
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.49 4.49 4.79
ASB Bank 5.79 4.49 4.49 4.79
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime ▼6.35 - - -
Avanti Finance - Specialised ▼7.55 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.49 4.49 4.79
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans ▼3.95 - - -
CFML Home Loans ▼6.05 - - -
CFML Prime Loans ▼6.25 - - -
CFML Standard Loans ▼6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Lender Flt 1yr 2yr 3yr
Co-operative Bank - First Home Special - 4.35 - -
Co-operative Bank - Owner Occ 4.99 4.45 4.49 4.79
Co-operative Bank - Standard 4.99 4.95 4.99 5.29
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.79 4.95 -
First Credit Union Standard 6.49 5.39 5.55 -
Heartland Bank - Online ▼5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 5.39 4.25 4.59 4.79
Kainga Ora 6.29 4.75 4.75 4.99
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.65 5.39 5.39 5.65
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.49 4.49 4.85
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society ▼6.49 4.59 ▼4.59 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank ▼5.84 5.09 5.09 5.39
SBS Bank Special - 4.49 4.49 4.79
Lender Flt 1yr 2yr 3yr
SBS Construction lending for FHB 3.74 - - -
SBS FirstHome Combo ▼3.29 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank ▼6.59 5.19 5.29 5.59
TSB Special ▼5.79 4.39 4.49 4.79
Unity First Home Buyer special - 3.99 - -
Unity Special 6.39 4.49 4.65 -
Unity Standard 6.39 5.29 5.45 -
Wairarapa Building Society 6.15 4.59 4.59 -
Westpac 5.89 5.09 5.05 5.35
Lender Flt 1yr 2yr 3yr
Westpac Choices Everyday 5.99 - - -
Westpac Offset ▲8.64 - - -
Westpac Special - 4.49 4.45 4.75
Median 6.15 4.67 4.85 4.85

Last updated: 4 December 2025 2:52pm

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